Todays Questions from John in Detroit, MI

How can I repair my credit?

Because of the recession and poor economy I have some lates on a credit cared as well as multiple lates on a mortgage. Am I never going to be able to get credit again? Is there any possibility for me to repair this and fix the mistakes I made?

Answer:

John, everyone experiences tough times and makes mistakes. The first, and most important thing you can do is start paying your bills on time immediately. Make arrangements and plans to get caught up, and don’t be late again. Your credit history affected most by your most recent activity, getting late accounts caught up will immediately help your score. That being said, there are other things you can do as well. While lates or negative accounts may be accurate, there may be inaccuracies in the way they are being reported to the credit bureaus, experian, equifax, and transunion, and it is completely legal to dispute these entries! I would recommend following the directions in our free credit dispute guide, as well as using our free sample credit dispute letter templates to help to possibly get these negative items removed

Good luck!